I don't agree that if you spend over $30.000 on a car you will lose money on it.The whole idea in buying a car is because you want it.Not to make money on it.Guys that lose money on cars is because they didn't do there research on the car,or just get all excited and buy the first car they see.When I bought my car I had to go and get a trailor to get it home.On my way back I got a phone call and was offered $15.000 more then I paid for it.And they just never asked once.It all depends on the car,and how bad some wants it.
The car was non original engine, was an amateur restoration (compared to the nut and bolt black z16 #'s car that went for $286K a few years ago)...it has some incorrect details like mirror, antennae etc... NOM would really affect the value of a car that is all about the motor!! ...but it still brought $140K
This red Z16 was formerly a MN car and used to come up to winnipeg to race at bison... neat winnipeg connection, and the oldest surviving Z16 as well (#2 VIN)
finished at $140k....not too shabby... not sure if it was original motor?
ak
I thought that particular car would have gone for more than $140K; buyer likely got a good deal considering there were only 201 of them built and I think I read somewhere less than 60 left (could be wrong on that).
Here's a good example because it's my car and it won't look like I'm making a example of somebody else. I have a 65 L-74 SD 4spd Cheetah car, non numbers match but the motor was probably pulled at Conroy because they dropped in a L-79 or more. I will have probably have 7000.00 in metal replacement, 2000.00 into the chassis, 8000.00 into a EC L-79 motor, I bought it for 3500.00, I had to put a frame under it 1500.00, oem fenders 1600.00, oem hood 400.00, oem trunk lid 300.00, bumpers and chrome 5000.00, preprep for paint 3500.00, paint for 5000.00 in and out, and the assembly and disassembly is at least 5000.00. So I have 43800.00 into it so do I here 100000.00, it's super rare by itself, it has the Conroy connection, and it's a cool Canadian pontiac. So do I here 100000.00? It's for sale. (Well, it's not really for sale)
-- Edited by 65sssd on Saturday 22nd of January 2011 10:56:45 PM
Might be hard to get that ... unless the rare Beaumonts become known & attractive to well heeled auction buyers. I just saw an ad for an L79 65 Beaumont in the US for something north of $80K.
That said I don't think many of us regular hobbyists buy with intent to sell. Of all the cars I've had & sold, I'd say I only made money on a couple of them. But I never bought them with resale in mind. Still don't.
Might be hard to get that ... unless the rare Beaumonts become known & attractive to well heeled auction buyers. I just saw an ad for an L79 65 Beaumont in the US for something north of $80K.
That said I don't think many of us regular hobbyists buy with intent to sell. Of all the cars I've had & sold, I'd say I only made money on a couple of them. But I never bought them with resale in mind. Still don't.
It was a example of the point that rarity isn't equal to the money and money in might not equal your money out. I restore and collect because I like it and don't expect to get my money out. If anybody wants to pay me for it I would gladly take your money!
At least most of the bidders had the common sense to stay away from the so-called "JFK ambulance". I like what Mike Joy said afterwards, "the bidders have spoken".
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Prince Edward Island
'64 Parisienne CS "barn find" - last on the road in '86 ... Owner Protection Plan booklet, original paint, original near-mint aqua interior, original aqua GM floor mats, original 283, factory posi, and original rust.
Some of those bidders buy these cars not because they love the body lines or seen one as a kid and fell in love with it,and just have to have it.They have so much money they don't know what to do with it.Its bragging rights, its I have to beat that other bidder and get it.Most of those cars will end up in some storage garage,and the only miles on them will be on and off the trailor.
there i was flipping between football and the auction and some guy has a 1920's packard sign, he says normally it would be worth 2000-4000, but because this is BJ it should get 20,000-30,000. That says it all.
More $$$ than brains. Let's try to get the BJ off of muscle car's and onto imports! That way $$ comes down and putses that are in it to make money will f$#@ off and the hobby will return to normal. No?? Ah well, nice to dream.
I didn't see a lot of super high dollar sales this year. Haven't followed them all but it seems from what I saw that $500K was the top dollar range this time compared to $1MM plus in prior years. Plus many cars seemed to sell for a lot less than you would have seen 3-4 years ago. Maybe even that big $$ auction market is self correcting.
